Central Okanagan / Kelowna Real Estate Market Update: September 2024
Stay up to date with the latest Central Okanagan / Kelowna real estate trends for September 2024. This comprehensive market report provides key insights into single-family homes, townhomes, and condos in the Central Okanagan / Kelowna real estate market.
Single-Family Homes
- Sales: The sale of single-family homes in the Central Okanagan decreased slightly by 0.9% in September 2024 compared to September 2023, with 117 homes sold versus 116 in the previous year.
- New Listings: New single-family home listings dropped by 7%, with 452 new listings in September 2024, down from 487 in September 2023.
- Average Price: The average price of a single-family home declined by 4%, reaching $1,050,830 in September 2024, compared to $1,093,325 in September 2023.
- Days on Market (DOM): Homes spent 4% less time on the market, averaging 56 days in September 2024 compared to 60 days in September 2023.
Townhomes
- Sales: Sales of Central Okanagan townhomes increased by 5% year-over-year, with 39 townhomes sold in September 2024 compared to 37 in September 2023.
- New Listings: New townhome listings decreased by 11%, with 135 new listings in September 2024, down from 151 in September 2023.
- Average Price: The average price for a townhome fell by 7% to $673,235 in September 2024, compared to $720,503 in September 2023.
- Days on Market (DOM): The DOM for townhomes rose by 19%, with properties selling in an average of 63 days in September 2024, compared to 53 days in September 2023.
Condos
- Sales: Condo sales in the Central Okanagan saw a 14% year-over-year increase, with 82 units sold in September 2024, up from 72 in September 2023.
- New Listings: New condo listings fell by 17%, with 182 listings in September 2024, compared to 218 in September 2023.
- Average Price: The average condo price dropped by 13% to $460,764 in September 2024, down from $531,634 in September 2023.
- Days on Market (DOM): The DOM for condos decreased slightly by 2%, with properties staying on the market for an average of 57 days in September 2024, compared to 58 days in September 2023.
For personalized real estate advice or more information on the Central Okanagan / Kelowna real estate market, contact Jeff Creamer at Royal LePage Kelowna. Call 250-575-7112 or email jeff@shopkelownahomes.com today!
Check out Last Month's Central Okanagan / Kelowna Real Estate Market Statistics
Source: Association of Interior Realtors